Forex trading headlines for Asia Wednesday 17 September 2014
- New Zealand – dairy auction overnight “unchanged from the previous event”
- Die Welt: ECB considering buying ABS below its own credit rating limit
- New Zealand Q2 current account balance -1.065bn (expected -1.0bn)
- Westpac forecast Fonterra to cut 2014/15 milk payment to NZ$5.30/kg
- Australia – Westpac / Melbourne Institute (MI) Leading Index for August: -0.1% (prior was -0.1%)
- Is the Australian dollar market ignoring this risk to exports to its biggest trade partner?
- How big a deal is the PBOC to inject 500bn yuan? Hot or Not?
- PBOC 500 bn yuan liquidity add … another perspective again
A typical pre-FOMC session for FX in Asia today, with flat, narrow-range moves pretty much across the board for the majors.
USD/JPY did make an attempt on late-yesterday’s highs but fell short of testing them. market talk of option-related sellers in size ahead of 107.50. We’ll see, perhaps, once the FOMC is out of the way. EUR/JPY, too, tested toward overnight highs in early Tokyo trade but it, too, gave back some ground as the session progressed, but also within a tight range.
AUD and NZD continued to give back some of their overnight China-inspired gains, with AUD/USD off around 30 points at one stage with the NZD/USD down a similar number of points.
